After the halving, are miners really not 'dead'? JPMorgan counters the pessimists!
JPMorgan's latest report delivers a 'critical blow' to the market: In May, Bitcoin mining profitability not only didn’t collapse, but steadily rebounded.
The 13 mining companies they tracked saw an overall market value increase of 19% month-on-month, while the daily average block reward gross profit surged by 36%.
What does this mean?
In the context of halving, a sharp decline in transaction fees, and widespread pessimism across the network, miners are not only surviving but thriving more than ever. The underlying logic is:
BTC prices are still operating at high levels, supporting mining income
Efficient mining machine updates + low electricity cost areas 'rushing' to layout
Small miners exiting, hash rate concentrating, leading miners earning more
In other words, the so-called story of 'halving mining difficulties' may only belong to those who were unprepared.
